Zendesk (ZEN) Price Target Increased to $43.00 by Analysts at KeyCorp

Zendesk (NYSE:ZEN) had its target price upped by investment analysts at KeyCorp from $42.00 to $43.00 in a research note issued on Wednesday. The firm presently has an “overweight” rating on the software maker’s stock. KeyCorp’s target price would indicate a potential upside of 4.12% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Stifel Nicolaus upped their price target on shares of Zendesk from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Wednesday. Craig Hallum restated a “buy” rating and issued a $45.00 price target (up from $37.00) on shares of Zendesk in a research note on Wednesday. Stephens upgraded shares of Zendesk from an “underweight” rating to an “equal weight” rating in a research note on Wednesday. Zacks Investment Research restated a “hold” rating on shares of Zendesk in a research note on Saturday, January 27th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $42.00 price target on shares of Zendesk in a research note on Tuesday, January 23rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. Zendesk presently has an average rating of “Buy” and an average price target of $38.50.

Zendesk (NYSE:ZEN) traded up $2.87 during mid-day trading on Wednesday, hitting $41.30. 1,576,059 shares of the company traded hands, compared to its average volume of 803,542. Zendesk has a fifty-two week low of $24.30 and a fifty-two week high of $42.35. The firm has a market capitalization of $3,757.79, a P/E ratio of -37.19 and a beta of 1.87.

Zendesk (NYSE:ZEN) last released its quarterly earnings results on Tuesday, February 6th. The software maker reported ($0.01) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Zendesk had a negative net margin of 27.43% and a negative return on equity of 32.50%. The business had revenue of $123.43 million for the quarter, compared to the consensus estimate of $119.68 million. During the same period in the prior year, the company posted ($0.04) earnings per share. Zendesk’s revenue was up 39.3% compared to the same quarter last year. analysts expect that Zendesk will post -1.03 EPS for the current year.

In other Zendesk news, SVP John Geschke sold 787 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $35.05, for a total transaction of $27,584.35. Following the sale, the senior vice president now directly owns 12,582 shares in the company, valued at $440,999.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adrian Mcdermott sold 1,593 shares of the stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $36.27, for a total transaction of $57,778.11. Following the sale, the insider now owns 81,081 shares in the company, valued at $2,940,807.87. The disclosure for this sale can be found here. Insiders have sold 101,426 shares of company stock worth $3,543,308 over the last quarter. Corporate insiders own 5.30% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ZEN. Prudential Financial Inc. bought a new position in shares of Zendesk in the second quarter worth about $245,000. Principal Financial Group Inc. lifted its holdings in shares of Zendesk by 16.5% in the second quarter. Principal Financial Group Inc. now owns 13,522 shares of the software maker’s stock worth $376,000 after acquiring an additional 1,917 shares during the last quarter. Teachers Advisors LLC lifted its holdings in shares of Zendesk by 24.5% in the second quarter. Teachers Advisors LLC now owns 175,967 shares of the software maker’s stock worth $4,888,000 after acquiring an additional 34,599 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Zendesk by 125.8% in the second quarter. Ameriprise Financial Inc. now owns 96,764 shares of the software maker’s stock worth $2,687,000 after acquiring an additional 53,901 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Zendesk by 3.7% in the second quarter. New York State Common Retirement Fund now owns 103,900 shares of the software maker’s stock worth $2,886,000 after acquiring an additional 3,719 shares during the last quarter. Hedge funds and other institutional investors own 93.94% of the company’s stock.

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About Zendesk

Zendesk, Inc (Zendesk) is a software development company. The Zendesk family of products is built to work together to help organizations understand and manage customer relationships. All Zendesk products share a common interface and are being developed to support a shared services infrastructure and common customer data platform.

Analyst Recommendations for Zendesk (NYSE:ZEN)

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